Fifteen years ago, Russell bought his house for $141,000. The house’s property value has decreased by 1.6% per year ever since then. If Russell sells his house, how much is it worth, to the nearest hundred dollars?

A 1.6% yearly decrease means the house keeps 98.4% of its value each year. After 15 years, its value is $141,000 × (0.984)^15 ≈ $110,700, so the house is worth about $110,700, choice A.

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